Raketech - Interim Report Q3 2019
STOCKHOLM, Nov. 21, 2019 /PRNewswire/ --
THIRD QUARTER 2019
FIRST NINE MONTHS OF 2019
EVENTS DURING THIRD QUARTER 2019
SUBSEQUENT EVENTS AFTER THE END OF THE THIRD QUARTER
CEO MICHAEL HOLMBERG COMMENTS ON THE QUARTER
"In the third quarter, both revenues and the number of NDCs increased compared to the previous quarter, despite a continued challenge in the Swedish gaming market. We have a positive underlying revenue development with an increased revenue share, which drives recurring revenues - however, this will come into full effect during the upcoming years. During the quarter, we continued to focus on global expansion, with concrete progress in both Japan and Germany. All in all, this gives us confidence for the future, even though the result for the third quarter is unsatisfactory.
Our products continue to generate high traffic levels for our partners. The underlying NDC development is on par with the previous year, despite changing conditions in the Swedish market. The NDC growth of 7 percent compared to the second quarter shows strength in customer acquisition and traffic. I am glad that we can show a strong operating cash flow for the quarter of EUR 3.2 million, which is 41 percent higher than the corresponding period last year.
For the first time ever, Raketech's operations outside of the Nordic region accounted for 10 percent of the revenue mix, with contributions from Germany, Canada, New Zealand and Japan amongst others. This is thanks to the ongoing efforts to expand geographically.
In brief, the expansion strategy means that we will operate in at least three continents, and each continent will represent at least 10% of the company's revenues over time. This is a clear strategy that we are executing. I am certain that we will be successful in building a global company, with products in sports and gaming that serves operators, media companies and other businesses with a focus on responsible and user-focused services."
PRESENTATION FOR INVESTORS, ANALYSTS AND THE MEDIA
CEO Michael Holmberg and CFO Andreas Kovacs will present the report and answer questions in an audiocast at 9.00 a.m. CET on 21 November. The presentation will be held in English and can be followed online via https://tv.streamfabriken.com/raketech-q3-2019. To participate by phone, please dial +46 8 5664 2703 (SE), +44 3333 009 263 (UK)
The report is attached to this press release and also available at https://raketech.com/investor/
FOR MORE INFORMATION
This information is such that Raketech Group Holding P.L.C. is required to publish under the EU Market Abuse Regulation. The information was submitted under the auspices of the CEO for publication at 7.00 a.m. CET on 21 November 2019.
About Raketech Group
Raketech is a leading online affiliate and content marketing company, specialised in comparison services for sports and gaming, online guides, communities and social media products in primarily the Nordic region and the UK. Through some 20 flagship brands, Raketech guides sports and gaming enthusiasts to the best possible services, while also delivering high-quality traffic and leads to its partners. Raketech grows both organically and via acquisitions and operates its business in accordance with a clear framework for responsible affiliate marketing services. The company's shares are listed in Nasdaq First North Premier Growth Market with ticker RAKE. Erik Penser Bank AB is the company's Certified Adviser (email@example.com / +46-8-463-83-00). For more information, visit www.raketech.com.
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Company Codes: ISIN:MT0001390104, Stockholm:RAKE
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